The German government does not expect the European Commission to thwart General Motors' plan to sell a controlling stake in Opel to Magna, a spokesman said on Friday.
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BYD plans to list itself on the Shenzhen Stock Exchange next year with a share issue to raise funds for its new energy vehicle projects, according to a senior company official.
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Yesterday's announcement that a Magna International-led consortium would buy a 55% stake in General Motors' European Opel/Vauxhall operations finally ended speculation about who would win the bidding round but employees were hardly put at rest as the matter of where Magna's expected 10,000-worker jobs axe will fall remains uncertain.
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Hyundai Motor plans to start building a car assembly plant in Brazil in April next year to produce small cars aimed at South American markets, according to a Korean media report.
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Hyundai Motor plans to start building a car assembly plant in Brazil in April next year to produce small cars aimed at South American markets, according to a Korean media report.
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Chrysler has said it has ended its engine manufacturing alliance with Hyundai Motor and and Mitsubishi Motors Corporation.
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AvtoVAZ plans to lay off 5,000 employees, according to Kommersant business daily citing sources at the Russian carmaker and at the government of the Samara Region where it is based.
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Malaysian national carmaker Proton Holdings is in partnership talks with Volkswagen, according to media reports.
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The joint venture between Korea's Samsung SDI and Germany's Bosch plans to invest KRW500 bn (US$407m) in an electric vehicle battery plant as part of its bid to gain 30% of the global market by 2015.
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Contracts finalising the merger of Volkswagen and Porsche will be delayed as the two companies work out a number of details that need to be settled, a VW spokesman told the Financial Times Deutschland.
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The UK government has ordered lawyers to gather the necessary evidence required to ban former directors of defunct MG Rover Group from holding company office in future.
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The Chevrolet Equinox fuel cell electric vehicles today passed 1 million miles of gasoline and tailpipe pollution-free driving by homemakers, accountants, computer game designers and others using the vehicles every day in real-world conditions.
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BMW is to offer a special edition of its popular X5 to mark the range's 10-year production milestone.
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Yesterday, General Motors announced the launch of a new Satisfaction Guarantee program to eligible buyers of new Chevrolet, Buick, GMC and Cadillac vehicles. This new incentive is part of the larger "May the Best Car Win" marketing campaign that aims to demonstrate that GM has total confidence in its product line-up when compared to the most competitive vehicles in each segment.
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AURORA, ON, and MOSCOW, Russia, - Magna International Inc. and Savings Bank of the Russian Federation today announced that their joint offer to acquire a 55% interest in Adam Opel GmbH ("Opel") has been selected by both General Motors Company ("GM") and the Opel Trust as the preferred solution to address the future of Opel. Under the offer, the acquired 55% interest in Opel would be owned 50:50 by a Magna/Sberbank consortium ("Consortium") with GM retaining a 35% interest and Opel employees acquiring 10% as part of a new labour framework. The offer contemplates a total equity investment by the Consortium of Euro 500 million over time.
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Honda of America Mfg. marked 30 years of manufacturing in America today with a symbolic tree planting ceremony that represents the company's deep roots in America and its longstanding relationships with the communities that have hosted the company's operations.
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Adrian Sutil proved that Force India's brilliant performance at Spa was not just a flash in the pan. The German ranked 3rd in the morning session and then first this afternoon!
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NASCAR Canadian Tire Series' leader Andrew Ranger is expecting a tough race this week-end in Barrie for the Torbram Electric 300 presented on the short oval known to be a "car crusher".
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Luca di Montezemolo nearly dropped a bombshell on Friday when he announced that Fernando Alonso would join Ferrari - "sooner or later".
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